Market Analysis Report

Market Update

At present time, Bitcoin and Ethereum have fully recovered from the exit of the Chinese cryptocurrency market, as the Bitcoin price achieved an all-time high at $5,856 and the price of Ether surged from around $250 to $340.

Since then, however, Bitcoin has come under pressure from profit taking and is currently orbiting around the $5,600 levels. At press time, the Bitcoin price is sitting at $5,613 and has dropped 2.8% in the last 24 hours, with over $580 M worth of BTC exchanged on the BTC/USD pair, representing a 22.7% share of daily volume, second only to the JPY at 62.5%.

The recent surge in the price of Ether has likely been triggered by the increasing developer activity around the Ethereum network and the introduction of the Byzantium fork.

Currently sitting at $338, the Ethereum price has risen up to 0.8% in the last 24 hours, with over $230 M worth of Ethereum exchanged in the past 24 hours on the ETH/USD pair, which has a 33% share of daily trading volume.

See live charts here and here

Ethereum Executes Blockchain Hard Fork to Byzantium

Today, at 05.22 UTC Ethereum was officially updated. The hardfork enacted a batch of Ethereum improvement protocols (EIPs) designed to improve the platform.

As Byzantium was a planned fork with minimally contentious changes, there has been very little disagreement among the community about the merits of the code changes included in the upgrade.

Read more here

South Korea Prepares to Tax Bitcoin Use

South Korea is preparing to tax Bitcoin use after the cryptocurrency’s trading volume skyrocketed. Han Seung-hee, the commissioner of the country’s National Tax Service, told lawmakers this weekend that the issue of how to best tax cryptocurrencies is being discussed.

Han Seung-hee was asked, "as the daily transaction value of virtual money grows beyond the Kosdaq, we must actively cope with the shift away from the conventional reservations. What is the taxation plan?" The Commissioner then replied:

"I am still taxing business income, and I am discussing whether to tax the value-added tax or capital gains tax with regard to virtual currencies such as Bitcoin."

Read more here

Pirate Bay Resumes Mining Monero Using Visitor CPU Power

The Pirate Bay has once again added mining scripts to its website, forcing users to donate their CPU power to generate revenue for the site. The company has begun using Coinhive, a JavaScript library that harnesses the CPU power of website visitors to mine Monero.

The website had previously run a one-day Coinhive trial in September to gauge whether the practice would serve a viable alternative to running ads. However, the mining script is currently running alongside the normal site ads, with no explanation from the site administrator.

Read more here

Recently Added

TRIP Added to Upcoming ICO List

MBT Added to Upcoming ICO List

GUESS Added to Upcoming ICO List 

StartupToken Tour Offers Unique Chance to Meet Founders of Innovative Blockchain Startups in Asia in October

StartupToken is bridging the gap between blockchain entrepreneurs and potential token buyers via a series of events in Asia called the “StartupToken Asia Tour” starting on October 17^th in Singapore.

Over the last 12 months, the crypto world has seen an explosion in the offerings of new tokens or ICO’s (Initial Coin Offerings) with nearly US$2bn collected as proceeds of token sales. Given the amounts raised by token issuers, this trend is not expected to slow down in the next months.

StartupToken is offering a full-package service for startups wishing to sell tokens to support the development of their platforms, from access to legal counsel to technical support, PR, and marketing. A project must first pass the qualification test put in place by StartupToken to distinguish the true innovators from the opportunists.

You can discover the future leaders of the token economy outline their product and vision in Singapore on October 17th, Hong Kong on October 18th and Tokyo on October 19th.

For more information vistit the StartupToken Website and see the StartupToken Asia tour presentation. Click to attend the event in Singapore, Hong Kong or Tokyo.